Latest news: AWH buys in Colorado; Sunstone earnings; NexGen adds in Florida

AWH acquires in Colorado. New York City-based AWH Partners has acquired a 212-key, dual-branded Residence Inn/Fairfield Inn & Suites hotel in Broomfield, Colorado, from an undisclosed buyer for $29 million. Dallas-based Spire Hospitality, an AWH Partners subsidiary, will manage the hotel.

Sunstone misses expectations for Q3. Aliso Viejo, California-based Sunstone Hotel Investors reported incrementally negative results as part of its third-quarter results. RevPAR growth was -1.3% and hotel EBITDA was $57 million, down -2.8% year-over-year. Analyst Michael Bellisario of R.W. Baird said Sunstone’s results were short of expectations despite a previously disclosed labor disruption in San Diego. “Sunstone’s results and updated outlook are incrementally negative, in our view, and near-term estimates need to come down, which likely will pull down 2025 expectations a bit. Full-year guidance has been cut to reflect a variety of headwinds – the most fundamental one being a slower recovery in Maui. Also, the Andaz Miami Beach rebranding/reopening has been delayed to February 2025, and the hotel now will miss part of the seasonally strong first quarter.”

NexGen acquires in Florida. Itasca, Illinois-based NexGen Hotels has acquired the 150-key The Maritime Hotel Fort Lauderdale Airport & Cruiseport in Florida from an undisclosed seller for an undisclosed price. The boutique hotel will undergo a renovation and rebrand as the Moor Hotel at Marina Bay, a Tribute Portfolio Hotel, which is scheduled to be fully converted by the third quarter of 2025.

Excel acquires in New York. Arlington, Virginia-based Excel Group has acquired the 209-key Embassy Suites by Hilton Syracuse Destiny USA in Syracuse, New York, from an undisclosed buyer for an undisclosed price. The hotel opened in 2017.

Sonesta’s first MOD in the US. Sonesta International Hotels Corp. is opening its first MOD Collection hotel in the U.S. with the 120-key ACP Hotel Houston Westchase, MOD Collection by Sonesta in Texas. It’s the soft brand’s second opening in North America after the Hotel 11, MOD Collection by Sonesta in Calgary, Canada, opened at the end of 2023.

Dimension adds in Texas. Fort Lauderdale, Florida-based Dimension Hospitality has added the 79-key Fairfield Inn & Suites Bay City in Bay City, Texas, to its management portfolio.

Four Seasons adds in Belize. Four Seasons Resort & Residences is opening the 104-key Four Seasons Resort & Residences Caye Chapel just off the coast of Belize. The property will also include 18 overwater bungalows. The hotel and residences are scheduled to debut in 2025.

IHG adds voco on Gold Coast. IHG Hotels & Resorts is partnering with Sydney-based developer Felix Capital to sign the first voco hotel on the Sunshine Coast in Australia. The 153-key voco Maroochydore Sunshine Coast is scheduled to open in 2028.

Galgorm acquires in Northern Ireland. Galgorm, Northern Ireland-based Galgorm Collection has acquired Galgorm Castle Estate in Ballymena and Roe Park Resort in Limavady from an undisclosed buyer for a combined £50 million. In addition to acquiring both properties, Galgorm Collection has committed an additional £22 million to enhance the properties and estates over the next five years.

AHLA holiday travel survey. According to a new survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult, 52% of Americans plan to travel overnight for leisure in the next four months, and hotels remain the top lodging choice for both leisure (45%) and business travelers (59%). The survey also showed that 62% of Americans are more likely (25%) or equally as likely (41%) to stay in a hotel this fall or winter compared to a year ago. Additionally, the survey found that 32% of Americans are likely to travel overnight this year for Thanksgiving, while 34% are likely to travel overnight for Christmas, a repeat of last year’s numbers for both holidays.

Hawaii workers ratify new contract. Over 2,500 Waikiki hotel workers, represented by the UNITE HERE Local 5 union, voted on Monday to ratify a new contract at five Marriott-operated hotels. The hotels include the Royal Hawaiian Hotel, Sheraton Princess Kaiulani, Sheraton Waikiki, Waikiki Beach Marriott Resort and the Westin Moana Surfrider.

Hyatt enters Romania. Hyatt Hotels Corp. is entering the Romanian market and plans to open five new Hyatt Regency hotels in the area by 2027. Hyatt is partnering with Brasov, Romani-based Aro Palace S.A., to open the 250-key Hyatt Regency Aro Palace Brașov. The hotel originally opened in 1939 and is currently being fully renovated and is scheduled to reopen in 2027. Hyatt plans to add the Hyatt Regency Zadar in Croatia in 2025, the Hyatt Regency Tirana in Albania in 2026, the Hyatt Regency Palase Resort & Spa in Albania in 2027 and the Hyatt Regency Novi Sad in Serbia in 2027, strengthening the company’s positioning in the region.

Remington adds in Mexico. Dallas-based Remington Hospitality is adding the 93-key Kimpton Mas Olas Resort and Spa on the Baja coastline in Mexico to its management portfolio. Remington has been adding in CALA with new properties in Mexico, Belize, Grand Cayman, Costa Rica, the Dominican Republic and Peru.

First Mondrian in Australia. Ennismore is debuting its Mondrian brand in Australia by opening the 208-key Mondrian Gold Coast in 2025. It will be located on one of Queensland’s most iconic beaches. There are currently 11 Mondrian hotels in the world.

Travelodge acquires in London. Thame, U.K.-based Travelodge has acquired an office building in London from an undisclosed buyer for an undisclosed amount to convert into a new hotel. The 24,000 sq. ft. Genesis House on Godliman Street will be transformed into a 95-key Travelodge hotel. Conversion work is scheduled to begin in early 2026, and the hotel is scheduled to open in the first quarter of 2027.

Loadstar acquires 3 in Japan. Tokyo-based Loadstar Capital K.K. has acquired three hotels in the greater Tokyo area from an undisclosed seller for an undisclosed price. The hotels are located in Tokyo and Kawasaki City. While the price was undisclosed, the company said “the acquisition price is equivalent to or more than 30% of the company’s consolidated net assets of 19,293 million yen for the fiscal year ended December 31, 2023.”

Accor adds in Croatia. Accor has partnered with Rijeka, Croatia-based Jadran Hotels Rijeka to add the 75-key Hotel Continental into its boutique collection. The hotel is scheduled to reopen in 2026. There are 17 Handwritten Collection properties in 11 countries, and the brand aims to expand to 250 boutique hotels by 2030.